Unemployment rate for over-30s creeps up

[Kusje]

you love your MIL or not?  we dun want to hear another nagging about the MIL in here    

 

I already live with her now haha so there's no real change there. But worse comes to worse, get the 3+3 and then close the door? 

[Dafansu]

I need your advice here. My EC has about 4 years left on the MOP. Closer to that date, I intend to ask my MIL to sell off her current HDB (being rented out as she stays with me. Rental is quite low because it is in very poor condition).

 

She will then repurchase another 2nd hand HDB (she has never gotten a grant before so she should still be eligible) which is most likely a 3+3 or EA/EM in a more prime location (say queenstown?) where we will all stay and rent out the EC. Difference between the sale price of her current place and new place will be borne by my wife.

 

Do you think it is a good idea? Can google and tell me what I should do?

 

Edit with more background: Current HDB is a 70 year old walkup apartment in Tiong Bahru. Difficult for a 70 year old woman to climb up everyday. Also, condition is extremely poor (original from 70 years ago I guess?). There's still about 55 years left on the lease but we're not sure if there will be any SERS or not. The blocks opposite the road have already undergone SERS 5 years back but were not torn down (was first used as a Hostel and now rental flats for those waiting for their BTO).

 

think u will need to check how much she can sell her existing HDB for, what's the price for the 3+3 or EA/EM and if her existing flat is not enough to cover the purchase price how much loan can she take 

[Kusje]

think u will need to check how much she can sell her existing HDB for, what's the price for the 3+3 or EA/EM and if her existing flat is not enough to cover the purchase price how much loan can she take 

 

Confirm cannot cover and she cannot take any loan. Current HDB is a 3 room so maybe worth 600k? EA/EM could be around 1m.

 

Any additional amount will have to be paid via her CPF or cash but let's assume this can be settled.

[SuPerBoRed]

I need your advice here. My EC has about 4 years left on the MOP. Closer to that date, I intend to ask my MIL to sell off her current HDB (being rented out as she stays with me. Rental is quite low because it is in very poor condition).

 

She will then repurchase another 2nd hand HDB (she has never gotten a grant before so she should still be eligible) which is most likely a 3+3 or EA/EM in a more prime location (say queenstown?) where we will all stay and rent out the EC. Difference between the sale price of her current place and new place will be borne by my wife.

 

Do you think it is a good idea? Can google and tell me what I should do?

 

Edit with more background: Current HDB is a 70 year old walkup apartment in Tiong Bahru. Difficult for a 70 year old woman to climb up everyday. Also, condition is extremely poor (original from 70 years ago I guess?). There's still about 55 years left on the lease but we're not sure if there will be any SERS or not. The blocks opposite the road have already undergone SERS 5 years back but were not torn down (was first used as a Hostel and now rental flats for those waiting for their BTO).

 

i think its a decent plan... nothing wrong with keeping your options open.. things may change is 3~4yrs anyways.. maybe tio SERs? maybe..   

 

if your wife is only daughter..  dont think much issue.. 

 

Tiong bahru.. sure SERS la.. prime area .. can build higher..  who dont want to take over?

[Jman888]

i think its a decent plan... nothing wrong with keeping your options open.. things may change is 3~4yrs anyways.. maybe tio SERs? maybe..   

 

if your wife is only daughter..  dont think much issue.. 

 

Tiong bahru.. sure SERS la.. prime area .. can build higher..  who dont want to take over?

 

 

if SERS mean 1 for 1 exchange (in most cases price is around the value).

[Kusje]

if SERS mean 1 for 1 exchange (in most cases price is around the value).

 

SERS is not exactly 1-1 exchange (you can choose to upgrade or downgrade at the same time too). As I understand it (disclaimer: I didn't read every single thing about it and might have gotten stuff), once there is SERs, they will send valuers to your place and arrange at a compensation for you. Then you have 3 options:

 

1. You will get to selecting a replacement flat in a replacement site BTO somewhere in the same area. Location could be better (most of the time) or worse. Price is based on market value and some grants (as "compensation").

2. You can apply for any other BTO/SBF and get some priority (not sure how that works) together with the grant/compensation.

3. You can buy resale and get some grant/compensation

i think its a decent plan... nothing wrong with keeping your options open.. things may change is 3~4yrs anyways.. maybe tio SERs? maybe..   

 

if your wife is only daughter..  dont think much issue.. 

 

Tiong bahru.. sure SERS la.. prime area .. can build higher..  who dont want to take over?

 

SERS definitely best option la. MIL confirm cannot climb up 3 flights of stays so she can't even stay in her own home. 

 

1 chap living on level 2 is wheelchair bound so he is effectively stuck in his own home 90% of the time! Govt said they were evaluating other cheaper lift options for older buildings (like pneumatic lifts?) but my own evaluation of the building design is that it doesn't allow for it.

Edited May 3, 2017 by Kusje

[Chowyunfatt]

But almost everyone who has a family tells u it is worth it, after comparing single life and family life.

Some People Live for Others ... Some People Live for Themselves ...

 

No Right ... No Wrong ...

[inlinesix]

Start by reducing their salaries by 70% and stop increasing the population.

Then that money can be put into good use, without taxing more from the people.

 

With growing number of senior citizen + low birth rate, are you sure we can stop increasing population?

 

In addition, Singapore economy does not have high productivity.

[13177]

SERS is not exactly 1-1 exchange (you can choose to upgrade or downgrade at the same time too). As I understand it (disclaimer: I didn't read every single thing about it and might have gotten stuff), once there is SERs, they will send valuers to your place and arrange at a compensation for you. Then you have 3 options:

 

1. You will get to selecting a replacement flat in a replacement site BTO somewhere in the same area. Location could be better (most of the time) or worse. Price is based on market value and some grants (as "compensation").

2. You can apply for any other BTO/SBF and get some priority (not sure how that works) together with the grant/compensation.

3. You can buy resale and get some grant/compensation

 

SERS definitely best option la. MIL confirm cannot climb up 3 flights of stays so she can't even stay in her own home. 

 

1 chap living on level 2 is wheelchair bound so he is effectively stuck in his own home 90% of the time! Govt said they were evaluating other cheaper lift options for older buildings (like pneumatic lifts?) but my own evaluation of the building design is that it doesn't allow for it.

Thought recently someone from garment said something on old flats that not all old flats will be SERS, and majority of the flat high chance would not be SERS lo. So dont pin too high hope on SERS. Lol.

[Enye]

I need your advice here. My EC has about 4 years left on the MOP. Closer to that date, I intend to ask my MIL to sell off her current HDB (being rented out as she stays with me. Rental is quite low because it is in very poor condition).

 

She will then repurchase another 2nd hand HDB (she has never gotten a grant before so she should still be eligible) which is most likely a 3+3 or EA/EM in a more prime location (say queenstown?) where we will all stay and rent out the EC. Difference between the sale price of her current place and new place will be borne by my wife.

 

Do you think it is a good idea? Can google and tell me what I should do?

 

Edit with more background: Current HDB is a 70 year old walkup apartment in Tiong Bahru. Difficult for a 70 year old woman to climb up everyday. Also, condition is extremely poor (original from 70 years ago I guess?). There's still about 55 years left on the lease but we're not sure if there will be any SERS or not. The blocks opposite the road have already undergone SERS 5 years back but were not torn down (was first used as a Hostel and now rental flats for those waiting for their BTO).

 

i hdb peasant....not qualified to advise an EC person

 

btw your wife very rich, full cash the difference between old flat and new

 

 

[RH1667]

Pardon my poor grammar and England. My intent was to compare the difference in prices of the HDB executive flat type between these 2 estates which were constructed around the same time period in history , i.e. 1987.

 

 

Oh , i see. 

Thanks for the clarification.  

[Kusje]

Thought recently someone from garment said something on old flats that not all old flats will be SERS, and majority of the flat high chance would not be SERS lo. So dont pin too high hope on SERS. Lol.

 

Yes, gotta look at the specific flat location and circumstances I guess. My considerations:

 

Factors in favor of SERS:

 

1. Building already 70 years old but has 55 years of lease left. It was built before HDB was even in existence under god knows what standards. Are they sure it is build to last 70-125 years?

2. Building is only 4 stories high so it is a waste of prime space in Tiong Bahru when there is is potential to build much higher

3. Blocks opposite the road already undergone SERS (although it was 5 years back and seems like no redevelopment planned?)

4. No lift. How can the elderly (of which there are still many in the area) continue to climb the stairs?

 

Factors against SERS:

 

1. Buildings in that area supposedly have to be kept low rise to allow for helicopter landing in SGH field. How low? I dunno as it is just a rumor. 

2. Conservation factor. Even though not officially classified as conserved, they could be some kaypo groups in Singapore fighting to keep the buildings as heritage. Not sure how strong this is as there are some neighboring flats already classed as conserved.

3. Government underbuilt flats in recent years and are still trying to make up for it (BTO wait times still very high!). So they might not be able to handle so much at one go.

 

@enye So what does google say?

i hdb peasant....not qualified to advise an EC person

 

btw your wife very rich, full cash the difference between old flat and new

 

 

 

No la. Not enough money then borrow beg or steal lor.

 

BTW, I'm not asking for your pezzie advice. I want to know what google says.

Edited May 3, 2017 by Kusje

[SuPerBoRed]

Actually.. i dont know the rental market there @kusje.... but i wld assume it should be quite good since AM like tiong bahru area...  u said low rise.. i was naturally assuming that area with alot of eateries etc.. 

[Kusje]

Actually.. i dont know the rental market there @kusje.... but i wld assume it should be quite good since AM like tiong bahru area...  u said low rise.. i was naturally assuming that area with alot of eateries etc.. 

 

Yes, it is in that area. Rental wise I reckon it would be around 3.5-4k per month if we are willing to throw in 50k worth of reno to make it Ang Mo standards. Right now getting slightly more than half that only.

[DACH]

With growing number of senior citizen + low birth rate, are you sure we can stop increasing population?

 

In addition, Singapore economy does not have high productivity.

So the problem is productivity?

Then the govt should invest more in technology to increase productivity.

Keep importing people is not a viable solution. Just look at the problems overpopulation has caused in the past decade and productivity doesn’t improve much even with the influx of foreigners.

[Enye]

Yes, gotta look at the specific flat location and circumstances I guess. My considerations:

 

Factors in favor of SERS:

 

1. Building already 70 years old but has 55 years of lease left. It was built before HDB was even in existence under god knows what standards. Are they sure it is build to last 70-125 years?

2. Building is only 4 stories high so it is a waste of prime space in Tiong Bahru when there is is potential to build much higher

3. Blocks opposite the road already undergone SERS (although it was 5 years back and seems like no redevelopment planned?)

4. No lift. How can the elderly (of which there are still many in the area) continue to climb the stairs?

 

Factors against SERS:

 

1. Buildings in that area supposedly have to be kept low rise to allow for helicopter landing in SGH field. How low? I dunno as it is just a rumor. 

2. Conservation factor. Even though not officially classified as conserved, they could be some kaypo groups in Singapore fighting to keep the buildings as heritage. Not sure how strong this is as there are some neighboring flats already classed as conserved.

3. Government underbuilt flats in recent years and are still trying to make up for it (BTO wait times still very high!). So they might not be able to handle so much at one go.

 

@enye So what does google say?

 

No la. Not enough money then borrow beg or steal lor.

 

BTW, I'm not asking for your pezzie advice. I want to know what google says.

 

yes boss...your wish is peasant's command

 

 

 

 

 

 

 

 

google said he is also a peasant and not qualified to advise an EC dweller

 

[DACH]

Yes, gotta look at the specific flat location and circumstances I guess. My considerations:

 

Factors in favor of SERS:

 

1. Building already 70 years old but has 55 years of lease left. It was built before HDB was even in existence under god knows what standards. Are they sure it is build to last 70-125 years?

2. Building is only 4 stories high so it is a waste of prime space in Tiong Bahru when there is is potential to build much higher

3. Blocks opposite the road already undergone SERS (although it was 5 years back and seems like no redevelopment planned?)

4. No lift. How can the elderly (of which there are still many in the area) continue to climb the stairs?

 

Factors against SERS:

 

1. Buildings in that area supposedly have to be kept low rise to allow for helicopter landing in SGH field. How low? I dunno as it is just a rumor.

2. Conservation factor. Even though not officially classified as conserved, they could be some kaypo groups in Singapore fighting to keep the buildings as heritage. Not sure how strong this is as there are some neighboring flats already classed as conserved.

3. Government underbuilt flats in recent years and are still trying to make up for it (BTO wait times still very high!). So they might not be able to handle so much at one go.

 

@enye So what does google say?

 

 

No la. Not enough money then borrow beg or steal lor.

 

BTW, I'm not asking for your pezzie advice. I want to know what google says.

Don't forget. SERS is not guaranteed for everyone. Only selected.

[Ingenius]

Actually, the problem of low birth rate and importing foreign workers is not as simple as that.  It is easy to complain and look at the problems caused, but do we try to understand the big picture and the trade-offs ?   If only governing a country is so easy to achieve only positive results and happiness for everyone, in this world everywhere is also heaven already.